{"id":1004170532,"date":"2017-03-29T02:58:13","date_gmt":"2017-03-29T10:58:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004170532"},"modified":"2022-12-08T07:23:28","modified_gmt":"2022-12-08T15:23:28","slug":"cbre-secures-41m-loan-for-penn-cherry-hill","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-secures-41m-loan-for-penn-cherry-hill\/","title":{"rendered":"CBRE Secures $41M Loan for Penn Cherry Hill"},"content":{"rendered":"<p>By Adina Marcut<\/p>\n<div id=\"attachment_1004170533\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1865-E.-Marlton-Pike-Cherry-Hill-N.J..png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004170533\" data-attachment-id=\"1004170533\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-secures-41m-loan-for-penn-cherry-hill\/1865-e-marlton-pike-cherry-hill-n-j\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1865-E.-Marlton-Pike-Cherry-Hill-N.J..png\" data-orig-size=\"800,454\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1865 E. Marlton Pike, Cherry Hill, N.J.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1865-E.-Marlton-Pike-Cherry-Hill-N.J..png?w=800\" loading=\"lazy\" class=\"wp-image-1004170533 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1865-E.-Marlton-Pike-Cherry-Hill-N.J..png\" alt=\"1865 Marlton Pike East, Cherry Hill, N.J.\" width=\"300\" height=\"170\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1865-E.-Marlton-Pike-Cherry-Hill-N.J..png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1865-E.-Marlton-Pike-Cherry-Hill-N.J..png?resize=300,170 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/1865-E.-Marlton-Pike-Cherry-Hill-N.J..png?resize=768,436 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004170533\" class=\"wp-caption-text\">1865 Marlton Pike East, Cherry Hill, N.J.<\/p><\/div>\n<p><strong>Cherry Hill, N.J.<\/strong>\u2014CBRE\u2019s Capital Markets Debt &amp; Structured Finance team announced that is has secured a $41 million loan for a 155,000-square-foot office building in Cherry Hill, N.J. CBRE&#8217;s Nick Harris, Steve Roth and Steven Doherty procured financing for the buyer.<\/p>\n<p>Located at 1865 Marlton Pike East, the state-of-the-art facility is leased to University of Pennsylvania Health System and\u00a0serves as a primary care center. The property includes clinical offices for numerous medical practices, including cardiology and radiology. On-site amenities include a caf\u00e9, retail pharmacy and an expanded laboratory.<\/p>\n<p>&#8220;The opportunity to finance Penn Cherry Hill was pursued by a wide array of life companies,&#8221; Nick Harris, said in a statement. &#8220;They were attracted to the credit tenancy, lease term, state-of-the-art medical office redevelopment of the property and the borrower\u2019s long-term track record as a market leader in the medical office building space.&#8221;<\/p>\n<p>Robert Fahey, Jerry Kranzel and Jeffrey Shell of CBRE Capital Markets\u2019 Institutional Properties team represented the seller during the transaction\u00a0that took place in January. The building changed\u00a0hands for nearly $82 million.<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 155,000-square-foot office building is leased to University of Pennsylvania Health System.<\/p>\n","protected":false},"author":436,"featured_media":1004170533,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21754,11,21742],"tags":[32789,34641],"class_list":["post-1004170532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-medical-office","category-midatlantic","category-latest","tag-cbre","tag-penn-cherry-hill"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CBRE Secures $41M Loan for Penn Cherry Hill - 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